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WhiteHorse Finance shareholders approve increase in asset coverage ratio

WhiteHorse Finance Inc.'s shareholders approved an increase in the company's minimum asset coverage ratio to at least 150%, effective immediately.

This will allow the business development company to double the amount of debt it can incur earlier than had been indicated. The increase in the asset coverage ratio was previously set to become effective May 3, 2019.

A spending bill that U.S. President Donald Trump signed in March 2018 included a provision that allowed business development companies to take on higher debt leverage in the course of their activities.